AMICORP COMMUNITY FOUNDATION. Engage. Embrace. Empower. EMBRACE ENGAGE EMPOWER. STAND OUT FROM THE CROWD

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1 AMICORP COMMUNITY FOUNDATION Engage. Embrace. Empower EMBRACE ENGAGE EMPOWER STAND OUT FROM THE CROWD 1

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4 NAME AMICORP COMMUNITY FOUNDATION STATUS FOUNDATION DOMICILE CURAÇAO CENTRAL OFFICE BANGALORE, INDIA 2 STAND OUT FROM THE CROWD

5 TABLE OF CONTENTS THE CEO S MESSAGE BOARD OF MANAGEMENT ACF: KNOWING NO BOUNDARIES ACF S SOCIAL RESPONSIBILITY PROJECTS OUR PEOPLE S COMMITTMENT GIVING & VOLUNTEERING RAISING FUNDS FOR THE AMICORP COMMUNITY FOUNDATION COMMUNITY EMPOWERMENT ENVIRONMENTAL CARE HEALTHCARE RECOGNIZING EMPLOYEE EFFORTS OUR PRIORITIES IN 2015 ABOUT ACF ABOUT AMICORP FINANCIAL STATEMENTS FOR THE YEAR ENDED, 31 DECEMBER, STAND OUT FROM THE CROWD 3

6 CEO S MESSAGE 2014 was a milestone in the history of Amicorp Community Foundation (ACF). TOINE KNIPPING CEO - AMICORP GROUP We increased our efforts in our sanitation project in the villages of Les, one of Bali s poorest communities, and in December we successfully completed 400 of the 480 promised kamar mandis (outhouses with latrine and bathing facilities). By doing so, we brought better hygiene and health to more than 1,600 people. This has allowed villagers to spend more time on education and work. Their children are less likely to face premature deaths from diarrhea and contamination, and we reduced the risk of women and girls being sexually assaulted. We have also reduced our costs from $800 to $640 for each kamar mandi. 4 STAND OUT FROM THE CROWD

7 To deepen our commitment to these communities who we have pledged to support, we also laid the groundwork for the Amicorp Community Center (ACC), a vocational training school that we will establish in Les. The ACC will train the local community in food and beverage service; permaculture; cultural heritage and life skills that will lift thousands of people out of poverty by giving them the means to gain employment. P.T. Pusat Komunitas Amicorp and P.M.A. Pusat Masyarakat Amicorp were established, and we are in process of acquiring an unspoilt plot of land upon which we will set up a school. In May, we welcomed Bali-based Rucina Ballinger to our team as director of the companies to move the project along. We aim to get the school operational by early Within Amicorp we strive to be environmentally responsible. We continue to raise environmental consciousness by tracking our air miles through our internal travel desk and we are working towards finalizing the acquisition of land to plant trees for reforestation as our way to offset emissions. Many of our local offices are also matching our efforts by adopting eco-friendly practices at work. We have also made considerable progress towards our twin goals of: 1. Reaching out and creating awareness with a wider audience, and option for all our clients to contribute for a very small cost. We also published our first ever ACF Annual Report, for December saw the launch of a threemonth long fundraising campaign with crowd funding company Mynbest. Social responsibility ranks high with all of our employees. In 2014, we had 100% participation in all 40 plus offices in at least one CSR activity, compared to 70% in Increasingly, we see greater pro-activeness and creativity emerging from more employees who are taking the lead in organizing CSR events, and gaining a higher level of appreciation to maximize resources. For instance, our Curaçao office organized a car rally to raise funds for Tuma mi Man (our daycare center in Curaçao), and the Singapore office organized a futsal tournament to support our Bali empowerment program. When you work together with us, be assured that 100% of your funds are channeled to the causes and its beneficiaries. Amicorp Group channels up to 1% of its revenue to ACF which in turn funds our operations and to date, our projects. Should you wish to get involved, a copy of our brochure can be made available upon your request, or you may reach out to our CSR - Sustainable Development team: Chan Sue Meng - Director or Aditi Wanchoo - Senior Manager. 2. Soliciting support and funds to deepen our commitment to these underprivileged communities. In August, we published our very first CSR-Philanthropy Brochure. This brochure provides an overview of all our global projects, and ways we can assist companies, individuals and families to realize their philanthropy goals. This was followed by the Les Empowerment Program Fundraising Kit, which provides donors with more details of our Bali projects, and ways to get involved. In the same month, we launched the Voluntary CSR Charge into invoices, creating an easy Toine Knipping CEO Amicorp Group CEO Amicorp Community Foundation STAND OUT FROM THE CROWD 5

8 BOARD OF MANAGEMENT TOINE KNIPPING Chief Executive Officer JOE TENG Board member SOURAYA RADWAN Chairwoman MARGARET SANKATSING Treasurer SUE MENG CHAN Secretary & Director Sustainable Development ADITI WANCHOO Senior Manager Sustainable Development DERK SCHELTEMA Board member 6 STAND OUT FROM THE CROWD

9 ACF: KNOWING NO BOUNDARIES At Amicorp Community Foundation (ACF), social responsibility goes beyond the traditional concept of charity. Our goal is to bring self-sufficiency to communities by ensuring they have a livelihood, and that they are operating in conjunction with environmental consciousness. It is about preserving natural resources for future generations and inspiring people to action. ACF s current portfolio of projects are focused in Bali, Indonesia and Curaçao. Our day care center in Curaçao (Tuma Mi Man TMM) was established in The goal was to care for children of different social background and origin, offering free day care and opening up opportunities to a brighter future with better chances to develop their full potential. Since 2012, ACF has also worked in the poor northern communities of Bali. Initiatives include delivering better sanitation, vocational and life skills training, supporting a sustainable eco-tourism project, funding nursing training and salaries of a medical facility. Since 2013, ACF also began the Ami-Carbon offset project, working directly with Amicorp Groups 40 plus offices to reduce and offset CO2 emissions. ACF: SOCIAL RESPONSIBILITY PROJECTS AMICORP COMMUNITY CENTER 170,000 of 300,000 employable people live in abject poverty, despite Bali being a tourism haven welcoming 10 million (international and domestic) tourists a year (Bali Government Tourism website; 2014). In 2014, we started the process of setting up the Amicorp Community Center (ACC) our flagship vocational training center at Desa Les in the northern part of Bali, Indonesia to provide high quality vocational and life skills training for youth from low and no income families. The ACC will provide employment-building skills in hospitality including food, beverage, front office, housekeeping, English, computer literacy, life skills, permaculture and basic administrative skills. In the second phase of the project, classes in Balinese dance, gamelan music and hand-loomed textiles will be conducted with a view to developing cottage industries and preserving their cultural heritage. ACC s vision is to prepare as many less privileged people as possible to access employment opportunities that will come once hotels and restaurants are established in this region of Bali when the island s second airport in nearby Kubutambahan is expected to be completed in Our aim is to ensure the center s self-sustainability and economic viability. STAND OUT FROM THE CROWD 7

10 SANITATION SOLUTIONS Open defecation compromises women s safety and creates health problems such as diarrhea that impacts the ability to eat, sleep, think, work and study. Diarrhea also claims many lives of children aged under 5 years. Approximately 480 households in the subsistence villages of Les in the Buleleng regency in north Bali live without toilets. In 2012 we established a project to improve the villagers sanitation standards. By the end of 2014, the ACF delivered better health and hygiene to these families by providing close to 400 units of kamar mandi (outhouses built from cement with a zinc roof, containing a latrine and a water storage unit for flushing and bathing). COMMUNITY IMPACT On the island of Curaçao, Tuma mi Man (which means Take My Hand ) day care center which the ACF started in 2008 has gained recognition in the community for delivering high quality childcare services. Childcare is offered free of charge to children whose parents or caregivers do not have the means to pay for this. Our childcare offers these children opportunities to develop to their full potential. In 2014, we implemented a series of measures towards our goal to be the leading, quality daycare center on Curacao. To create more transparency in our operations, we developed a communication booklet that addresses the most frequently asked questions by parents, and implemented the use of an observation form to track and discuss all aspects of the development of children at the center. We also renovated the center s main building and upgraded the quality of our human resource by replacing staff and conducting appraisals on all employees. Along with funds raised for us by Amicorp Curacao, we were also the chosen beneficiary of a charity art event organized by Eleqt, a social discovery network company, which raised about $14,000. Several kids at Tuma mi Man were also adopted by corporates, including Price Waterhouse Coopers and Eclipse Consulting. 8 STAND OUT FROM THE CROWD

11 ENVIRONMENTAL CONSCIOUSNESS As part of our environmental stewardship program we have deepened our commitment to raise consciousness across Amicorp as we work to neutralize and offset our carbon footprint. Along with the actions taken by our offices towards reducing and offsetting CO2 emissions, we have made provisions to plant a tree for every 200 kilometers of air travel made by Amicorp Group s employees. We implemented our centralized air travel bookings initiative in 2013 to enable mileage calculation. E-tickets issued by our central travel desk inform of mileage and CO2 incurred. With data collected from our travel desk and transition management provisions made for employees who continued to book their travel directly, we intend to plant 90,000 trees to offset our carbon emissions from flying in 2013 and At the end of 2015, we believe 100% of our travel bookings will be channeled through our travel desk. OUR PEOPLE S COMMITTMENT GIVING & VOLUNTEERING We are very proud of our people s passion and commitment towards CSR. By the end of 2014, we witnessed 100% participation from our 40 plus offices across the globe. Our people engaged in CSR either by partnering with the ACF or by contributing to the local communities in which they live and work. The broad themes that we focused on included: RAISING FUNDS FOR THE AMICORP COMMUNITY FOUNDATION CHARITY EVENT AMI-RALLY CAR TREASURE HUNT Amicorp Curaçao raised funds for our day care center, Tuma mi Man, by organizing a car treasure hunt which helped raise over $5,000. The car treasure hunt was a public event that began early in the morning from Amicorp Curacao s office, and ended with a succulent BBQ sale with entertainment and prize presentations, including tickets to Colombia and Bonaire. STAND OUT FROM THE CROWD 9

12 CHARITY EVENT ACF 5S FUTSAL TOURNAMENT Amicorp Singapore organized a charity futsal (mini football) tournament which saw the participation of 120 people from different companies, including our competitors. The event helped raised $2,700 from sponsorships, beverages and registration fees. A sampling of the positive feedback included that of Eric Boes, our Amsterdam-based colleague who was in Singapore: it took me 2 foot massages to recover but it was worth it., and David McCoo of the Royal Bank of Scotland, Singapore: thank you very much, we loved every minute of it. And all for a very worthy cause. The funds were channeled to ACF to be used for the Les Empowerment Program * in north Bali to deliver better sanitation and create a vocational training center to help people from low and no income families. Six kamar mandis (outhouse with latrine and bath facilities) will bear placards with the Singapore office s name on it owing to their generous contributions! CHARITY EVENT - ULTRA MARATHON As a group we all came together to raise funds for one of our colleagues, Raghavendra Rao, who successfully ran the Ultra Marathon (50kms) in support of ACF s Les Empowerment Program *. Raghu completed the distance of 50 kms/31 miles in 5 hours and 45 minutes on a cold November morning. We raised $2,100 which was ploughed back for our social empowerment projects in Bali, Indonesia. * The Les Empowerment Program covers two projects - sanitation and education which the Amicorp Community Foundation is working on in the northern Bali villages of Les, which has one of the highest percentage of the island s poor people. For further info on our group s social projects, please visit amicorp.com/csrprojects.html. 10 STAND OUT FROM THE CROWD

13 COMMUNITY EMPOWERMENT AMICORP AMSTERDAM partnered with Save the City charity and spent time cheering up lonely and homeless people a few days before Christmas. The office also donated gift items to the needy. AMICORP BARCELONA donated clothes and items of personal use like toiletries to the Arrels Foundation whose main aim is to assist homeless people. In another event, Saint George s Day was celebrated with contributions to Make a Wish Foundation to help terminally ill children with their wishes. To end the year on a happy note, the team also worked with the local food bank, Fundacio Banc Dels Aliments to classify, sort and pack thousands of kilos of food supplies for underprivileged communities. AMICORP CYPRUS joined forces to assist Cyprus Red Cross to prepare Christmas packages for elementary school children and their families that were in need. AMICORP DUBAI in a unique fundraising activity set aside their lunch money through 4 week days in the month of December. This was donated to the ACF for the Desa Les empowerment program. AMICORP HONG KONG partnered with Well Family and The Neighbourhood Advice Action Council by visiting homes of the elderly and distributing down jackets and woolly scarves to them. AMICORP BUENOS AIRES partnered with FUNDACIÓN SÍ Toy Factory, a nonprofit that makes toys to donate to poor children. The team created and packaged the gifts that were delivered to less privileged children during Christmas. AMICORP BRAZIL partnered with Lar Divina Providência where each member adopted a child/teen for the day and prepared a Christmas package containing clothes, toys and played games. They also organized a bingo night and a vegetable sale to raise funds for AMEO (bone marrow transplant association) in order to distributed traditional Christmas season cake and poultry to families registered with AMEO. Members offered support & comfort to the patients. AMICORP BVI conducted an inter-office 7 week food drive and made a financial contribution to the BVI Family Support Network that provides support to victims of domestic violence. AMICORP INDIA volunteered their time at a school for poor children in Bangalore where they taught Basic English, cooked a meal for the kids, distributed gifts and painted the walls of the school building. The Mumbai office ran a Reusable Items Donation drive and collected clothes, footwear, household articles, stationery and toys which were donated to a local charity. AMICORP LUXEMBOURG collected 5 large bags of toys and gifts which were donated to Wildgen4 Children, a charity working for the welfare & wellbeing of disadvantaged children. AMICORP MALTA raised funds from the sale of stamps which was donated to the Mission Fund whose main aim is to send Maltese missionaries to poor African countries. They also brought Christmas joy to all at the St. Joseph s Home for Boys by raising funds together with a couple of clients to buy needed items. STAND OUT FROM THE CROWD 11

14 AMICORP MAURITIUS provided relief to a poverty stricken family by supplying them with basic food items, repairing their home and helping the children with their school materials. AMICORP SOUTH AFRICA team members personally made blankets out of fleece and donated them to a child welfare institute working with children living on the streets and underprivileged orphans. AMICORP MIAMI continued their sponsorship program for 7 children from impoverished backgrounds which included funding the children s education and healthcare. AMICORP MONACO participated in the No Finish Line / Children & Future fund raiser held to sponsor projects for under privileged children including providing critical cardiac treatment. AMICORP URUGUAY volunteered their time at a school for poor children where they painted playground floor games, built an organic orchard, planted trees and cleaned & designed the school garden. In-kind donations were also made. AMICORP UK partnered with the First Step Opportunity charity and donated funds for their projects which include assisting children with special needs. AMICORP PERU conducted a workshop for exaddicts and ex-gang teenagers and inspired them to establish goals, develop their entrepreneurial skills sand strengthen their self-esteem. The team donated school kits to all the participants. AMICORP SAN DIEGO visited the Hacienda Orphanage where they interacted with the children, helped them on their crafts project and gifted them much needed supplies. AMICORP VILNIUS participated in the national Cake Day and baked cakes which were sold to their colleagues. The proceeds from the sale were donated to sponsor the needs of poor children. AMICORP ZURICH organized a toy donation drive by the children of employees who were invited to spend the afternoon with their parents in the office. The toys collected were thereafter distributed to poor children. AMICORP SINGAPORE participated in the Yellow Ribbon Prison Run to demonstrate their solidarity for ex-offenders. Proceeds from the run will help start an empowerment program for the ex-prisoners. 12 STAND OUT FROM THE CROWD

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17 ENVIRONMENTAL CARE AMICORP CHILE transformed a dirty open space in a poor neighborhood by using recyclable materials like old rubber tires and converted it into a colorful garden & playground. AMICORP CHINA participated in a training on recyling and waste reduction and learned how to perform an environmental assessment on utilities related to paper, power and waste. AMICORP DAVAO in partnership with the City Environment and Natural Resources Office (CENRO) along with school children planted 60 seedlings to promote environmental sustainability. AMICORP NEW ZEALAND along with a local school planted over 80 native eco-sourced trees and plants around the school premises to offset the office s carbon emissions. Students were taught the importance of environmental sustainability. AMICORP SAN DIEGO participated in two separate cleanliness drives, the Pacific Beach Clean Up and Imperial Beach Clean Up drive to promote cleanliness and remove trash from the beaches. AMICORP SOUTH AFRICA sponsored the planting of seedlings on employee s birthdays. For each sponsored tree the employee received a CerTREEficate. AMICORP INDIA calculated the carbon emissions caused by the usage of laptops, desktops, printers, air conditioners, electricity and diesel consumption at the office level and planted 400 trees to offset their emissions. STAND OUT FROM THE CROWD 15

18 HEALTHCARE AMICORP BARBADOS continued their long term involvement with Variety the Children s Charity by participating in a charity walk and organizing a car wash, the proceeds of which were used to purchase Christmas gift boxes for the children. The team also joined Sagicor Life Inc. and the Barbados Cancer Society on a walkathon in support of breast cancer awareness. AMICORP BARCELONA completed the 15th annual Respiralia swimming marathon to raise funds for people affected by cystic fibrosis. AMICORP BRAZIL partnered with the AMEO (Association for Bone Marrow Transplant) by selling candies at a popular local fair, the proceeds from the sale were donated to the association. Additionally the team donated items from their homes as well. AMICORP INDIA wore pink to work and distributed information leaflets on cancer detection to commemorate breast cancer awareness day. AMICORP LUXEMBOURG sold chocolate truffles and raised funds for a charity APEM-T21 that works for people with disabilities affected by trisomy 21. AMICORP MALTA raised awareness of the Global Genes Project, a leading rare & genetic disease patient advocacy organization. The team wore blue denims and ribbons to show their solidarity. AMICORP MAURITIUS participated in a blood donation campaign which was appreciated by the Ministry of Health & Quality of Life. AMICORP BVI partnered with the BVI Cancer Society in a charity walk to raise funds for cancer awareness and treatment. AMICORP MIAMI participated in the Sixth Annual Families for Fragile X Walk/Run in support of autism. AMICORP CURAÇAO registered 21 of their colleagues as blood donors to support the Curaçao Lions Club in their blood donor drive AMICORP UK joined the Movember movement in support of prostate cancer research by disposing off their razors for the month and making donations to the Prostate Cancer UK. 16 STAND OUT FROM THE CROWD

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20 RECOGNIZING EMPLOYEE EFFORTS At Amicorp we feel that not only is it important to do good for others but, it is equally important to bring smiles to the faces of our employees who take the time and effort to help others less fortunate. With colleagues all over the world joining hands to do their bit to spread smiles, we have created our own special way to acknowledge both group and individual contributions to CSR initiatives. Once a year the following awards are handed out: The AmiBlue award recognizes meaningful office team contributions to Amicorp s corporate social responsibility initiatives for communities. The AmiGreen award recognizes significant office team achievements related to Amicorp s environmental consciousness initiatives. The winners of the 2014 AmiBlue awards are Amicorp Curaçao and Amicorp Singapore. The winners of the 2014 AmiGreen awards are Amicorp Chile and Amicorp Mumbai. OUR PRIORITIES IN 2015 We have identified four key priorities for ACF in 2015: AMICORP COMMUNITY CENTRE For the Amicorp Community Center to be 75% complete and operational by early AMI-CARBON With data collected from our travel desk in 2013 and 2014, and transition management provisions made for employees who continued to book their travel directly, we want to plant over 90,000 trees to offset our CO2 emissions for the two years. We also aim to have 100% of our travel bookings channeled through our travel desk. SHARED UNIVERSE (An ACF supported project) The critically endangered black hook lipped rhinoceros and the near threatened white, square-lipped species, number no more than 4,000 and 18,000 respectively. Shared Universe will offer these endangered species a space to live and procreate in safety at Mapesu Ranch, a secluded area of 5,851 ha (14,458 acres) bordering Mapungubwe National Park in the Vembe area of Limpopo. EXPANDING OUR OUTREACH AND COMMUNICATION We continue to raise funds so that we can deepen our commitment to the communities we have pledged to support. We will work together with our global offices to organize events that create awareness, raise funds and solicit support for underprivileged communities around the world. Additionally, we will roll out our CSR & Philanthropy Service to augment Amicorp Group s one stop shop proposition. With the CSR & Philanthropy Service, Amicorp Group will be able to assist individuals, corporates and families to realize their social responsibility goals by providing services such as CSR project identification or creation, establishing charitable structures such as trusts and foundations, and interim or long term project or entity management such as accounting, internal auditing and reporting. 18 STAND OUT FROM THE CROWD

21 ABOUT ACF Amicorp Community Foundation was set up by Amicorp Group in 2001 to run global social projects. These projects are focused on helping people from low and no income families to gain empowerment, self-confidence and dignity by giving them the means to remove themselves from poverty. It also focuses on creating environmental consciousness as a way towards better lives and livelihoods. LONG TERM MISSION AND VISION At Amicorp Community Foundation, we are committed to: OUR BOTTOM LINE People, Planet, Profit and Passion In Action to Reach Everyone s Full Potential OUR MISSION To motivate and stimulate Amicorp s employees, clients and vendors to participate in increasing environmental consciousness and support underprivileged people around the world by offering them sustainable and durable ways to achieve a better life through self-sufficiency. OUR VISION To deliver the highest quality vocational and life skills training for underprivileged communities, leaving this planet cleaner for the generations to come, and to create opportunities that inspire us all to develop self-esteem and grow to our full potential. OUR VALUES INTEGRITY we do what we say and say what we do. HONESTY we will not to participate in, or accept any type of corruption, bribery or nepotism. QUALITY we do the best we can in all we do. EQUALITY we treat every person with equal importance. CARE we treat all - people, animal and environment - well. FUN we ensure we all enjoy what we are doing and do not forget why we are doing it. STAND OUT FROM THE CROWD 19

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23 ABOUT AMICORP Amicorp Group (Amicorp) is an independent global fiduciary services provider specializing in entity administration services and financial support services. We provide company, trust and fund administration and outsourcing services to a broad range of mostly corporate but also high net-worth clients. We are a Hong Kong based Group with an international network of 40 plus offices in over 30 countries, offering access to the expert knowledge and skills of professionals globally. OUR OFFICES Argentina Curaçao Mexico Taiwan Barbados Cyprus Monaco The Netherlands Brazil Hong Kong New Zealand The Philippines The British Virgin Islands India Peru The Seychelles Cayman Islands Lithuania Singapore United Arab Emirates Chile Luxembourg South Africa United Kingdom China Malta Spain United States Colombia Mauritius Switzerland Uruguay STAND OUT FROM THE CROWD 21

24 AMICORP COMMUNITY FOUNDATION, CURAÇAO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER, STAND OUT FROM THE CROWD

25 INDEPENDENT AUDITOR S REPORT The Board of Amicorp Community Foundation Snipweg 30 Willemstad, Curaçao T: F: mail@bakertillyouracao.com Report on the financial statements We have audited the accompanying financial statements 2014 of Amicorp Community Foundation, Curaçao, which comprise the balance sheet as at December 31, 2014, and the income statement for the year then ended and a summary of the accounting policies and other explanatory information. Management s responsibility Management is responsible for the preparation and fair presentation of these financial statements in accordance with Book 2 of Curaçao Civil Code. Management has elected to prepare the financial statements in accordance with accounting principles used for the valuation of assets and liabilities and used for the method of income recognition as stated in note 2 of these financial statements. Furthermore management is responsible for such internal control as it determines is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error. Auditor s responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements give a true and fair view of the financial position of Amicorp Community Foundation as at December 31, 2014 and of its financial performance for the year then ended in accordance with accounting principles used for the valuation of assets and liabilities and used for the method of income recognition as stated in note 2 of the financial statements. Curaçao, May 11, 2015 Baker Tilly Curaçao V. T. M Bergisch RA STAND OUT FROM THE CROWD 23

26 AMICORP COMMUNITY FOUNDATION, CURAÇAO BALANCE SHEET AS AT 31 DECEMBER 2014 Note 2014 In USD 2013 In USD ASSETS Current assets Advances 3 299,065 - Cash and cash equivalents 4 17,935 2,622 Total assets 317,000 2,622 FOUNDATIONS S EQUITY AND LIABILITIES Reserve Accumulated surplus / (deficit) 5 (52,240) (148,028) Provision Provision for CO2 Offset project 6 315, ,650 Provision for Bali Sanitation project 50,000 - Provision for audit fees 4,240 4,000 Total liabilities 369, ,650 Total foundation s equity and liabilities 317,000 2,622 AMICORP COMMUNITY FOUNDATION, CURAÇAO INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER In USD 2013 In USD Note Income Donation income 7 913, ,475 Total income 913, ,475 EXPENDITURE Donation expenses 8 198, ,294 Bali Crisis project expenses 29,000 46,000 Bali Desa Les project expenses 288,690 85,200 Employee compensation expenses 91,232 - Consultancy fee 20,000 - Staff welfare expenses 9,328 - Expenditure towards CO2 Offset Project 168, ,650 Audit Fees 4,480 4,000 Bank charges 8,671 2,385 Total expenditure 817, ,529 Result, net 95,788 (155,054) 24 STAND OUT FROM THE CROWD

27 AMICORP COMMUNITY FOUNDATION, CURAÇAO RECEIPTS & PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2014 Receipts In USD Payments In USD Cash & Cash Equivalents Beginning balance Bank account with RBC Royal Bank - USD account 1,723 - Bank account with RBC Royal Bank - ANG account Receipts during the year Donation from Amicorp 669,372 - Donation from Amicorp employees 1,000 - Application of receipts: Funds Transferred to - Advance towards purchase of land 249,065 Advance to Ruchina 50,000 Bali Crisis project - 29,000 Bali Desa Les project - 238,690 Contribution to expenses of Tuma Mi Man 46,065 Consultancy fee 20,000 Staff welfare expenses 9,328 Audit fee 4,240 Bank charges - 8,671 Cash & Cash Equivalents Ending balance Bank account with RBC Royal Bank - USD account - 5,909 Bank account with RBC Royal Bank - ANG account - 12,026 Total 672, ,994 STAND OUT FROM THE CROWD 25

28 AMICORP COMMUNITY FOUNDATION, CURAÇAO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 (EXPRESSED IN US DOLLARS) 1. GENERAL Amicorp Community Foundation is a foundation, incorporated under the laws of the Netherlands Antilles on 21 December As per 10 October 2010, the Netherlands Antilles was dissolved and ceased to exist as a political entity due to a constitutional reform of the Kingdom of the Netherlands. Since 10 October 2010, Curaçao has become an autonomous territory within the Kingdom of the Netherlands. Moreover, Curaçao is a legal successor of the Netherlands Antilles and will continue using the existing laws and treaties of the Netherlands Antilles. The registered address of the foundation is Pareraweg 45, Curaçao. The purpose of the foundation is to look after and to promote the common interest and common good of the societies where Amicorp Holding Ltd. or its subsidiaries are active in the widest sense of the word by doing, among other things, donations in kind or in money. 2. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES Basis of presentation: The financial statements of the foundation have been prepared in accordance with generally accepted accounting principles, recognized in Curaçao and consistently applied. Income: Income is recognized in the period it is earned. Expenses: Expenses are recognized in the period these are incurred. Foreign currency translation principle Assets and liabilities denominated in currencies other than US Dollars are translated at the rate prevailing at the Balance Sheet date. Transactions in currencies other than US Dollars during the year are translated into US Dollars at the rate prevailing on the transaction date. Foreign exchange gains and losses are included in the Profit and Loss Account. 3. ADVANCES Advance towards purchase of land 249,065 - Advance to Ruchina 50, , CASH AND CASH EQUIVALENTS 2014 USD 2013 USD Bank account with RBC Royal Bank - USD account 5,909 1,723 Bank account with RBC Royal Bank - ANG account 12, ,935 2, USD 2013 USD 26 STAND OUT FROM THE CROWD

29 5. RESERVE Balance beginning of the year (148,028) 7,026 Correction previous year - reversal of audit fee - - Accumulated surplus of previous years brought forward 95,788 (155,054) Balance at end of year (52,240) (148,028) 2014 USD 2013 USD 6. PROVISION FOR CO2 OFFSET PROJECT Balance beginning of the year 146,650 - Addition during the year 168, ,650 Balance at end of year 315, ,650 Amicorp Community Foundation commits to plant a tree for every 200 kilometers of all air travel made by Amicorp employees. Hence, Foundation provided for the cost of USD 315,000 (90,000 USD 3.5 per plant) till end of December 2014 based on travel made USD 2013 USD 7. DONATION INCOME Funding from Amicorp Holding Limited and its subsidiaries 669, ,000 Contribution from Amicorp employees 1,000 1,181 Employee compensation expenses paid by Amicorp on behalf of Amicorp Community Foundation 91,232 - Fund transferred by Amicorp on behalf of Amicorp Community Foundation to Fundashon Tuma Mi Man 152, , , , DONATION EXPENSES 2014 USD 2013 USD Fund transferred by Amicorp on behalf of Amicorp Community Foundation to Fundashion Tuma Mi Man 152, ,294 Contribution to expenses of Tuma Mi Man 46, , , USD 2013 USD STAND OUT FROM THE CROWD 27

30 AMICORP COMMUNITY FOUNDATION, CURAÇAO TRIAL BALANCE FOR THE YEAR ENDED 31 DECEMBER 2014 (EXPRESSED IN US DOLLARS) Debit amount In USD Credit amount In USD Particulars Amicorp 669,372 RBTT ANG 12,026 RBTT USD 5,909 Advance to Ruchina 50,000 Advance to PMT - Indonesia 249,065 Bank Charges 8,671 Retained earnings 148,028 Employee compensation expenses of ACF paid by Amicorp offices 91,232 Donation Income 152,000 Donation from Amicorp employees 1,000 Donation Expenditure towards projects: Bali Crisis Care 29,000 Bali Desa Les 288,690 Consultancy fee 20,000 Employee compensation expenses 91,232 Staff welfare expenses 9,328 Donation Expenditure (TMM + Office Level donation) 152,000 Contribution to expenses of TMM 46,065 Expenditure for CO2 Offset Project 168,350 Audit Fees 4,480 Payable to Amicorp Management India Private Ltd. Payable to Amicorp Singapore Pte. Ltd. Provision for CO2 Offset project 315,000 Provision for Bali Sanitation project 50,000 Provision for Audit Fees 4,240 Total 1,282,844 1,282, STAND OUT FROM THE CROWD

31 AMICORP GROUP - ACF 2014 ANNUAL REPORT PUBLISHED BY AMICORP GROUP - ENGLISH 05/15 STAND OUT FROM THE CROWD 29

32 AMICORP COMMUNITY FOUNDATION Pareraweg 45, Curaçao This report is printed on Environmentally friendly paper 30 STAND OUT FROM THE CROWD